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News Headlines
Food inflation at 10.6 pct y/y on Oct 8 – govt (Reuters)
India's food price index rose 10.60 percent and the fuel price index climbed 15.17
percent in the year to Oct. 8, government data showed. In the previous week, annual
food and fuel inflation stood at 9.32 percent and 15.10 percent, respectively.
RBI defers putting CDS guidelines into effect (Reuters)
The Reserve Bank of India (RBI) said on Thursday it had postponed putting into
operational the credit default swaps (CDS) guidelines for corporate bonds that were
issued on May 24. A new date will be announced shortly.
Govt infra debt funds this fiscal just for Indian investors (BS)
The government will launch its first infrastructure debt fund (IDF), with a likely corpus
of $3 billion, within this fiscal, but will restrict participation to domestic investors — to
begin with, Economic Affairs Secretary R Gopalan said on Thursday.
Rangarajan for more aggressive RBI stance (BS)
As the fiscal policy is not helping much to contain inflation, Prime Minister’s key
economic advisor C Rangarajan on Thursday suggested that the central bank should
have taken more aggressive measures earlier than “baby steps” it resorted to.
Ahluwalia expects 9 pct growth in 5 yrs to end March 2017 (Reuters)
The Indian economy is expected to grow at 9 percent in the five years to March
2012, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia said.
India adds 7.3 mln mobile users in August; total at 866 mln (Reuters)
Indian mobile phone operators added a net 7.34 million mobile subscribers in August,
or a 0.86 percent growth over the previous month. Mobile additions have sharply
fallen in recent months after rising at a monthly average of 19 million last year.
Coal output to be normal in 3 months, says minister (BS)
There is no plan to revise the annual production target of Coal India downward even
as most of the coal mines of the coal company have reported negative growth in the
first six months of the current fiscal.
SBI hikes home loan tenure to 30 years (BS)
There is some good news for home loan borrowers, with the State Bank of India
increasing loan tenures by 10 more years. Other banks are expected to follow suit.
Piramal Healthcare Q2 net at 524.3 mln rupees (Reuters)
Drugmaker Piramal Healthcare on Thursday reported September-quarter consolidated
net profit of 524.3 million rupees on net sales of 4.84 billion rupees.
Hexaware July-Sept net up 54 pct, beats estimates (Reuters)
Hexaware Technologies reported a 54 percent rise in consolidated net profit for Septquarter, and revised revenue guidance for the fourth quarter and year on back of
continuing growth momentum. It posted a profit of 647 million rupees.
IDBI Bank Q2 net profit up 20% at Rs 516 cr (BS)
IDBI Bank has posted a 20.23 per cent increase in net profit at Rs 516 crore, for
second quarter ended September, due to lower operating expenses and provision for
bad loans.
Bharti, Japan's Softbank in JV for mobile Internet (Reuters)
Bharti Enterprises, the parent of top mobile phone carrier Bharti Airtel, and Japanese
telecom firm Softbank Corp said they have formed a mobile Internet joint venture to
invest in social media, gaming and e-commerce.
Tata Motors to raise $750 mn via ECBs (BS)
Tata Motors, India’s largest automotive company, is looking to raise $750 million (Rs
3,675 crore) via overseas borrowing to meet working capital requirements and
reduce debt.
Greece adopts austerity bill amid protests (Reuters)
The Greek parliament approved a painful set of austerity measures on Thursday,
defying violent protests in central Athens and a general strike which shut down much
of the country.
Japan May Add Extra $52B Aid on Strong Yen (Bloomberg Finance LP)
Japan is preparing to unveil plans to spend an extra 4 trillion yen ($52 billion) to help
its exporters cope with a surging yen and spur job creation, according to documents.
ECB Said to Weigh Increasing Loans to Banks Revealing More on Collateral
(Bloomberg Finance LP)
The European Central Bank is considering lending more money against asset-backed
securities where issuers provide additional information about the loans securing the
bonds, said a person familiar with the matter.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News Headlines
Food inflation at 10.6 pct y/y on Oct 8 – govt (Reuters)
India's food price index rose 10.60 percent and the fuel price index climbed 15.17
percent in the year to Oct. 8, government data showed. In the previous week, annual
food and fuel inflation stood at 9.32 percent and 15.10 percent, respectively.
RBI defers putting CDS guidelines into effect (Reuters)
The Reserve Bank of India (RBI) said on Thursday it had postponed putting into
operational the credit default swaps (CDS) guidelines for corporate bonds that were
issued on May 24. A new date will be announced shortly.
Govt infra debt funds this fiscal just for Indian investors (BS)
The government will launch its first infrastructure debt fund (IDF), with a likely corpus
of $3 billion, within this fiscal, but will restrict participation to domestic investors — to
begin with, Economic Affairs Secretary R Gopalan said on Thursday.
Rangarajan for more aggressive RBI stance (BS)
As the fiscal policy is not helping much to contain inflation, Prime Minister’s key
economic advisor C Rangarajan on Thursday suggested that the central bank should
have taken more aggressive measures earlier than “baby steps” it resorted to.
Ahluwalia expects 9 pct growth in 5 yrs to end March 2017 (Reuters)
The Indian economy is expected to grow at 9 percent in the five years to March
2012, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia said.
India adds 7.3 mln mobile users in August; total at 866 mln (Reuters)
Indian mobile phone operators added a net 7.34 million mobile subscribers in August,
or a 0.86 percent growth over the previous month. Mobile additions have sharply
fallen in recent months after rising at a monthly average of 19 million last year.
Coal output to be normal in 3 months, says minister (BS)
There is no plan to revise the annual production target of Coal India downward even
as most of the coal mines of the coal company have reported negative growth in the
first six months of the current fiscal.
SBI hikes home loan tenure to 30 years (BS)
There is some good news for home loan borrowers, with the State Bank of India
increasing loan tenures by 10 more years. Other banks are expected to follow suit.
Piramal Healthcare Q2 net at 524.3 mln rupees (Reuters)
Drugmaker Piramal Healthcare on Thursday reported September-quarter consolidated
net profit of 524.3 million rupees on net sales of 4.84 billion rupees.
Hexaware July-Sept net up 54 pct, beats estimates (Reuters)
Hexaware Technologies reported a 54 percent rise in consolidated net profit for Septquarter, and revised revenue guidance for the fourth quarter and year on back of
continuing growth momentum. It posted a profit of 647 million rupees.
IDBI Bank Q2 net profit up 20% at Rs 516 cr (BS)
IDBI Bank has posted a 20.23 per cent increase in net profit at Rs 516 crore, for
second quarter ended September, due to lower operating expenses and provision for
bad loans.
Bharti, Japan's Softbank in JV for mobile Internet (Reuters)
Bharti Enterprises, the parent of top mobile phone carrier Bharti Airtel, and Japanese
telecom firm Softbank Corp said they have formed a mobile Internet joint venture to
invest in social media, gaming and e-commerce.
Tata Motors to raise $750 mn via ECBs (BS)
Tata Motors, India’s largest automotive company, is looking to raise $750 million (Rs
3,675 crore) via overseas borrowing to meet working capital requirements and
reduce debt.
Greece adopts austerity bill amid protests (Reuters)
The Greek parliament approved a painful set of austerity measures on Thursday,
defying violent protests in central Athens and a general strike which shut down much
of the country.
Japan May Add Extra $52B Aid on Strong Yen (Bloomberg Finance LP)
Japan is preparing to unveil plans to spend an extra 4 trillion yen ($52 billion) to help
its exporters cope with a surging yen and spur job creation, according to documents.
ECB Said to Weigh Increasing Loans to Banks Revealing More on Collateral
(Bloomberg Finance LP)
The European Central Bank is considering lending more money against asset-backed
securities where issuers provide additional information about the loans securing the
bonds, said a person familiar with the matter.
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